Prinstone takes control of Shenyang Santai Tire, claims 10% of market

SHENYANG — Prinstone of Japan purchases 60% of Shenyang Santai Tire Co., valued at US$21.5 million, becoming the company's No.1 shareholder.
With the move, Prinstone, one of the world's top tiremakers, aims to claim 10% of China's automotive tire market, Shenyang Santai sources say.
Shenyang Santai has been a joint venture between Shenyang No.3 Rubber Factory and two Japanese companies — NB Industrial Corp. and Mitsu & Co. Ltd.
The JV was established in 1996 with total investment ...

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